Cray (NASDAQ:CRAY) issued its earnings results on Tuesday. The technology company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.09), Briefing.com reports. Cray had a negative net margin of 15.72% and a negative return on equity of 15.97%. The company had revenue of $71.55 million during the quarter, compared to analyst estimates of $70.67 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. Cray updated its Q2 2019 guidance to EPS.
Shares of CRAY traded down $2.10 during mid-day trading on Wednesday, reaching $27.87. 730,323 shares of the company’s stock traded hands, compared to its average volume of 319,715. The stock has a market cap of $1.15 billion, a PE ratio of -19.63 and a beta of 1.34. Cray has a 12 month low of $18.76 and a 12 month high of $30.56.
In other news, CEO Peter J. Ungaro sold 63,029 shares of Cray stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $22.39, for a total transaction of $1,411,219.31. Following the sale, the chief executive officer now owns 337,532 shares of the company’s stock, valued at $7,557,341.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter J. Ungaro sold 86,971 shares of Cray stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $22.61, for a total value of $1,966,414.31. Following the sale, the chief executive officer now directly owns 322,647 shares in the company, valued at approximately $7,295,048.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,000 shares of company stock worth $3,932,634. Corporate insiders own 4.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRAY. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cray by 83.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,240 shares of the technology company’s stock valued at $70,000 after buying an additional 1,478 shares during the last quarter. Quantamental Technologies LLC raised its holdings in shares of Cray by 1,027.8% during the first quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock valued at $98,000 after buying an additional 3,433 shares during the last quarter. Neuburgh Advisers LLC raised its holdings in shares of Cray by 32.9% during the fourth quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock valued at $105,000 after buying an additional 1,200 shares during the last quarter. Actinver Wealth Management Inc. bought a new stake in shares of Cray during the fourth quarter valued at approximately $206,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Cray during the fourth quarter valued at approximately $224,000. 98.95% of the stock is currently owned by institutional investors.
A number of brokerages have commented on CRAY. BidaskClub downgraded Cray from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Craig Hallum restated a “buy” rating and issued a $36.00 target price (up from $31.00) on shares of Cray in a research note on Wednesday. ValuEngine upgraded Cray from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. TheStreet upgraded Cray from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th. Finally, KeyCorp decreased their target price on Cray from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $33.00.
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Cray Company Profile
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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